Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANAn almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
More Alan Greenspan Quotes
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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Amateurs want to be right. Professionals want to make money.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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The Iraq War is largely about oil.
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There is no evidence that the business cycle has been repealed.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
ALAN GREENSPAN